Price T Rowe Associates Inc. MD Lowers Position in Doximity, Inc. (NASDAQ:DOCS)

Price T Rowe Associates Inc. MD reduced its stake in Doximity, Inc. (NASDAQ:DOCS) by 41.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 180,743 shares of the company’s stock after selling 127,483 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.10% of Doximity worth $9,651,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Barclays PLC raised its stake in shares of Doximity by 60.5% in the 3rd quarter. Barclays PLC now owns 53,401 shares of the company’s stock valued at $2,327,000 after acquiring an additional 20,125 shares during the period. Franklin Resources Inc. lifted its stake in Doximity by 564.1% during the third quarter. Franklin Resources Inc. now owns 83,098 shares of the company’s stock worth $3,487,000 after purchasing an additional 70,585 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Doximity by 254.3% during the third quarter. Retirement Systems of Alabama now owns 534,256 shares of the company’s stock worth $23,278,000 after buying an additional 383,480 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Doximity in the third quarter valued at $29,453,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Doximity by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 498,056 shares of the company’s stock valued at $21,700,000 after buying an additional 15,771 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on DOCS. Truist Financial dropped their target price on Doximity from $65.00 to $58.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Leerink Partners upgraded shares of Doximity from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $60.00 to $90.00 in a report on Friday, February 7th. Piper Sandler raised shares of Doximity from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $31.00 to $78.00 in a research note on Friday, February 7th. Morgan Stanley decreased their price target on shares of Doximity from $71.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Doximity in a research report on Friday, February 7th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Doximity currently has a consensus rating of “Moderate Buy” and an average price target of $65.39.

Insider Activity

In related news, CFO Anna Bryson sold 45,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $57.23, for a total value of $2,575,350.00. Following the completion of the sale, the chief financial officer now directly owns 357,165 shares of the company’s stock, valued at $20,440,552.95. This represents a 11.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kira Scherer Wampler sold 2,000 shares of Doximity stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the transaction, the director now directly owns 16,618 shares in the company, valued at approximately $946,062.74. This trade represents a 10.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,000 shares of company stock worth $3,841,610. Corporate insiders own 37.40% of the company’s stock.

Doximity Stock Up 2.0 %

Shares of DOCS opened at $59.26 on Friday. Doximity, Inc. has a 52-week low of $22.96 and a 52-week high of $85.21. The stock has a 50 day moving average price of $59.10 and a 200 day moving average price of $56.60. The company has a market capitalization of $11.06 billion, a price-to-earnings ratio of 59.26, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41.

Doximity Profile

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.